Sec. 49-357. - Bond or insurance.
As a condition of the issuance of any permit under this division, the manager of transportation and infrastructure shall require either the posting of a bond in a penal sum not to exceed fifty thousand dollars ($50,000.00) with sureties approved by the manager so conditioned that the person receiving a permit shall hold the city harmless from all loss or damage to persons or property on account of injury arising from the construction or maintenance of the permitted structure or appendage, or the filing of evidence of a policy of public liability insurance in the name of the permittee, with the city as a named insured, with the minimum limits of coverage of fifty thousand dollars/one hundred thousand dollars ($50,000.00/$100,000.00) for bodily injury and five thousand dollars ($5,000.00) for property damage, covering the location of the encroachment on the public property for which the permit is issued.
(Code 1950, § 331.1-3; Ord. No. 39-20, § 123, 2-3-20)